1124 5Th Ave Fort Lauderdale, FL 33304
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 1124 5Th Ave
- Year built
- 1951
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a six-unit multi-family property located at 1124 NE 5th Avenue, Fort Lauderdale, Florida, 33304. Built in 1951, this property offers a compelling blend of immediate income and significant upside potential. The property currently boasts five of six units rented, generating consistent cash flow. Each unit is equipped with individual water and electric meters, simplifying utility management and tenant billing. Three units have undergone recent renovations, while three others present an opportunity for value-add improvements. A notable feature is a detached three-bedroom unit, currently without a kitchen, providing a blank canvas for creative customization and increased rental income. This unit also benefits from newly installed impact windows and doors. Further enhancing the property's value, a new roof was installed in 2020. The property's enviable location within walking distance of Wilton Manors and Wilton Drive's vibrant shops and restaurants, coupled with its proximity to Las Olas, Flagler Village, and Victoria Park, ensures high tenant demand and strong rental rates. This property is being offered for sale at $1,350,000. The seller is also offering two additional duplexes for sale, presenting a unique opportunity for portfolio expansion with the potential to purchase all three properties together. This is a rare chance to acquire a well-situated, income-generating property in a highly desirable Fort Lauderdale location.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Lauderdale
- County
- Broward
- State
- Florida
- Longitude
- -80.139254
- Latitude
- 26.1396445
